U.S. markets are set to open high after the Fed´s minutes yesterday showed that the U.S. economy was stronger than at the end of the past year. Further, policy makers see various interest rate hikes in 2018, with the next one probably coming in March. Moreover, the 10-year Treasury note is almost at 3%.
Shares of Chesapeake Energy Corp. (CHK, Financial) gained more than 6% in premarket trading on the heels of the company posting its financial results for the fourth quarter. For the quarter, the company reported an annual net sales growth of 24.8% to $2.52 billion, while its profit advanced to 30 cents per share. Moreover, the results exceeded the analysts’ estimates by 6 cents in earnings per share and $240 million in revenue. In addition, EBITDA for the fourth quarter was $764 million and adjusted EBITDA reached $706 million.
Doug Lawler, Chesapeake's CEO, was pleased with the quarter and full year 2017 results, due to a less debt, more cash flow generation and margin enhancement. Further, it reached about $1.3 billion in asset and property sales and signed additional asset sales for $575 million for the second quarter of this year.
Gainers
• TechnipFMC PLC (FTI, Financial)
• CenterPoint Energy Inc. (CNP, Financial)
• Synopsys Inc. (SNPS, Financial)
Losers
• Stericycle Inc. (SRCL, Financial)
• Host Hotels & Resorts Inc. (HST, Financial)
• Duke Realty Corp. (DRE, Financial)
• The Hershey Co. (HSY, Financial)
Global Markets
The main European stock markets closed in negative territory. The U.K.'s FTSE lost 0.91%, France's CAC lost 0.16%, Germany's Dax retreated 0.52% but Spain's Ibex advanced 0.31%.
In Asia, Japan's Nikkei lost 1.07%, Hong Kong's Hang Seng retreated 1.48%, India’s BSE Sensex slid 0.07% and China´s SSE Composite rose 2.17%.
Disclosure: The author holds no positions in any stocks mentioned.
